Britney Spears Takes 'X Factor' Job, Is MIley Cyrus Next?

Negotiations have come to a close after months of hush-hush deliberation. Spears will get her very own judges chair next to Simon Cowell and music exec, L.A. Reid.

E! news confirms that Spears will receive $15 million for her first season on the show, the highest paycheck to date for an “X Factor” judge. The deal was pretty much set weeks ago when the “Toxic” singer was first rumored to be coming on board. Now that the fine print has been worked out, it’s official.

"There's been a lot of back and forth over the past few weeks as they negotiated the small details, but she's on,” a source told E! “It's all completed and Britney is beyond excited."

It's still unclear as to fate of Miley Cyrus on the show. Hollywood Life reports that the singer might not be a fourth judge, but be replacing Steve Jones as the host of season two.